On November 30, #香港稳定币监管框架 , DOGE delivered a noteworthy report card.

The price has been relatively stable, hovering around $0.15, with a slight decrease of 0.3% in the last 24 hours. However, the trading volume has exploded – $1.132 billion, a daily increase of 23.4%. This signal of "price stability with volume leading" is well understood by seasoned investors: it could either be a market shakeout or funds quietly positioning themselves. The RSI remains at 42.5 in the neutral zone, while the Fear and Greed Index has dropped to 25, indicating extremely conservative market sentiment.
The institutions are indeed taking frequent actions. Although Grayscale's GDOG ETF had a disappointing debut with no trades on the first day, at least it has officially launched. Even more interesting is the follow-up plan from 21Shares — reportedly bringing in substantial institutional funds, with Southeast Asia's traffic also ramping up. Franklin Templeton is even more aggressive, directly including DOGE in their crypto index ETF, alongside XRP and SOL, with an expected scale exceeding $200 million. REX-Osprey's DOGE ETF has already accumulated a size of $24 million, following the path that Litecoin took back in the day.
On-chain data is quite ordinary: daily revenue is $35,400, network fees have slightly increased, and stablecoin trading accounts for 34%. However, the community is lively—Baby Doge-themed stores have launched, receiving 122 likes in the comments; some compared the market cap of SHIB, saying DOGE still has room to chase seven other coins of the same level; others shared old debate videos of Clinton and Trump, adding fuel to the "moon narrative."
The target set by the technical analysts is very clear: looking at $0.176 in the short term, aiming for $0.22 in December, and daring to call $0.35 by the end of 2025. The key now is whether it can break through the resistance level of $0.1495. There are already whales accumulating at $0.144, and the weekly increase of 8.1% has also held strong.
In simple terms, we are currently in a period of institutional testing combined with community hype. The trading volume has started to increase, but the price is still bottoming out. Once it breaks 0.1495, the main upward wave that follows might really come.